Saudi Arabia, UAE, Kuwait To Discuss OPEC Plans On June 1

Just as the Saudis and Russia are said to be considering bringing back some production to address supply concerns, the energy ministers of Saudi Arabia, Kuwait, and the United Arab Emirates (UAE) will meet on Saturday in Kuwait City to discuss OPEC-related matters, Bloomberg reported on Tuesday, citing people with direct knowledge of the plans. Saudi Energy Minister Khalid al-Falih, Kuwait’s Bakheet Al-Rashidi, and the UAE’s Suhail Al Mazrouei who holds the OPEC presidency this year, will be talking about OPEC policies and could be joined by Mohammed Al Rumhi, the oil minister of non-OPEC Oman, which is part of the OPEC/non-OPEC production cut deal. The meeting of the three ministers of ally OPEC Gulf countries will be held “likely to ensure that these countries are on the same page ahead of the OPEC meeting next month,” Ole Hansen, head of commodities research at Saxo Bank, told Bloomberg. Although […]